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Monthly Financial Review Procedures

Deans, department heads and other unit managers

Deans, department heads and other heads of university
colleges/departments/units are required to perform specific financial
management functions on a monthly basis as identified in the roles and
responsibilities associated with their position.

To assist you in performing these tasks, a
checklist has been prepared as a guideline only and may be used to supplement
existing procedures already in use in your college/department/unit. User guides for the workflow tasks have also been created and can be found at the following:

Additionally,
the university must be able to provide evidence, both internally and
externally, that appropriate review of our use of public funds is taking place.
Greater accountability is being placed on the university by governments,
research sponsors, donors, and the public to ensure responsible financial
management. Accordingly, the university
is implementing a required monthly sign-off process for all individuals
entrusted with the management of colleges/departments/units. Every month, an email will be sent once the
month-end reports have been prepared, and a workflow task similar to this will appear on PAWS:

By clicking on the task identified in PAWS, you will be
redirected to a sign-off procedure similar to this:

You must answer each question and provide a response in the
note section in order to complete the sign-off procedure. You may
partially answer the questions and “Save & Close” the workflow task in order
to return to it at a later date. You
must “Complete” the task in order for your responses to be registered and for
the workflow task to disappear from your outstanding workflow list in
PAWS. Your sign-off should be completed
before the next month end.

In almost all cases, you should have two workflow tasks in
PAWS each month: one for your role as financial manager of specific funds; and
one for your role as head of a college/department/unit. Both sign-off procedures must be completed
each month.